Caterpillar Inc. (CAT) Elliott Wave Forecast - TradingLounge Daily Chart
Caterpillar Inc. (CAT) Daily Chart Analysis
Caterpillar Inc. (CAT) Elliott Wave Technical Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave {iii} of 5
Direction: Uptrend
Details: Caterpillar stock likely formed a bottom for wave 4 and is currently advancing. Recent corrections are unfolding in three-wave structures, reinforcing a bullish short-term outlook. The market is projected to extend gains within wave {iii}, maintaining upward momentum.
Caterpillar Inc. (CAT) Elliott Wave Forecast - TradingLounge 1-Hour Chart
Caterpillar Inc. (CAT) 1-Hour Chart Analysis
Function: Trend
Mode: Impulsive
Structure: Motive
Position: Wave (i) of {iii}
Direction: Uptrend
Details: The intraday chart suggests the market is progressing through sub-waves {i} and {ii}. An impulsive rally is underway in wave (i), targeting a short-term price level around $50. A brief pullback in wave (ii) is expected, potentially offering a buying opportunity before the broader uptrend continues.
Technical Analyst: Alessio Barretta
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